It may seem like another era, but the UK budget on was less than 3 months ago. At that time the Chancellor set out his plans to increase public R&D investment to £22 billion per year by 2024 to 2025.> Read more

GovGrant sits on the Research & Development Consultative Committee (RDCC) to represent UK’s business when it comes to the operational delivery of the R&D tax relief schemes. This is an HMRC-sponsored forum, and as members we receive regular updates as HMRC advice evolves and develops. We are currently in an unprecedented period of change, with the introduction of new and vital measures to support business British business.> Read more

In his first ever budget the Chancellor was bold and ambitious with his plans but since the 11 March the world and economy have changed beyond compare and the subsequent financial response from the Chancellor means the budget has paled into insignificance. Here Luke Hamm, CEO at GovGrant, considers how innovation is being promoted by the government and how speed is critical to any success.

Increased risk of material uncertainties

In these unprecedented times, the audit of going concern assessments and reporting on material uncertainty related to going concerns are key for auditors. The Audit and Assurance Faculty has produced two guides on the topic.> Read more

It is safe to say that the sudden emergence of Covid-19 and its impact has taken the world by surprise. It has brought economies to their knees as well as posed social challenges, but most importantly, it represents a great threat to the health and wellbeing of the most vulnerable. In these truly unprecedented times, our hopes of fighting, mitigating, and eventually, overcoming this global pandemic rest on the shoulders of innovative companies, universities and other organisations coming up with technical solutions to solve this problem, and fast.> Read more

GovGrant – a seat at the table when policy is discussed

Over the years our business has grown as a direct response to government initiatives to encourage innovation in the business community. Using our experience and expertise, we now have a seat at the table when government and businesses discuss the best way to reward innovation in the UK. We aim to influence policy by representing our clients.> Read more

R&D tax credits provide a real financial benefit to UK companies. As part of the UK governments commitment to R&D and innovation, it is one of the most successful mechanisms to support innovation in business. And now is the time to make sure that you are receiving the maximum amount of value possible.> Read more

GovGrant, like many SMEs, is doing everything we can to share, support and advise UK companies at this time

Yesterday we received an email update from HMRC specifically on R&D tax relief, which we share below. We hope it helps answer some of your questions but if you want to have a more detailed conversation about how Covid-19 is affecting your business either email or leave a message and we’ll get back to you.

The chancellor stands firm on the government’s commitment to R&D tax relief. The government have announced sweeping measures to turbocharge the UK economy and commitment to R&D was underlined with a massive £22bn investment.

The golden rule in an office, never talk politics – well sorry, I feel that I need to break that rule! The election manifestos have been unsurprising from the main two parties – sort Brexit on one side or change everything the other side is the summary. But of selfish importance to me and my clients is the parties view on how government should invest in R&D to make sure the UK leads the world in innovation.

In their latest podcast, Accountancy Age spoke to GovGrant’s CEO, Luke Hamm, about the need for the R&D tax credit programme to be kickstarted in the UK in order to drive much-needed innovation. In this entertaining podcast, we cover why the government must do more, how businesses of all sizes are missing out, the regional problem and why the big four need to take some of the blame for the issue.

Innovation tax specialist GovGrant comments on the annual HMRC tax credits statistics and says Government needs to demonstrate that it really is pro-business. Commenting before the publication today (10 October) of the latest HMRC statistics measuring the amount of tax credits claimed by the UK’s most innovative businesses during the previous 12 months, Luke Hamm, CEO of GovGrant, said:

Commenting on HMRC’s analysis of UK R&D tax credits in its report, published today Luke Hamm, CEO of innovation tax specialist GovGrant, which has helped businesses claim back over £200m for their R&D, said: “The good news is that the number of claims by UK SME businesses accessing the tax credits system has increased by 22% between 2015-16 and the end of 2017. 77% of all claims are from SMEs, and there’s been a welcome 15% increase in the number of first time SME applications.”

Posted on Friday 4 October 2019 by Dominic Bartholdi | Head of Business Development

GovGrant is delighted to be sponsoring the Innovation category at this year’s Hertfordshire Business Awards. This will be our third year sponsoring this category, which recognises and rewards innovation within our region. It always made sense for us to sponsor this award, after all, we spend our time working with all kinds of firms helping them identify innovation so they can get access to vital government funding.

Back in March, we began the search for our first apprentice to join the GovGrant team. Fast forward to June and Kati Plowman-sale had started her first day here in our St Albans office, taking on the role of Apprentice Finance Administrator. Kati is in the process of completing a Finance apprenticeship with North Hertfordshire College. We sat down with Kati to find out what she thought of the application process, her experience so far in the role and her future goals.

Posted on Monday 8 July 2019 by Dominic Bartholdi | Head of Business Development

Hebden Bridge-based Urban Cottage Industries has secured £90,000 under the R&D tax credit scheme. The company is a bespoke manufacturer of high quality, retro and vintage style lighting equipment, aimed at professional designers, architects and engineers. CEO Stanley Wilson said the money had made a big difference to the firm, which invests heavily in innovation, at a time when tough market conditions made it a challenge to pay their day-to-day bills.

GovGrant collaborated with four other firms aiming to help SMEs maximise their innovation opportunities at a June event in partnership with Business Funding Show. It was the first in a programme of GovGrant sponsored events. We invited the other organisations to share the platform in order to give innovative companies a fully-rounded insight into available funding sources (debt, equity, grant and, of course, the R&D tax credits and Patent Box schemes) to support a continuous cycle of innovation within their organisations, and all the business benefits that ensue.

GovGrant, the innovation tax specialist that helps businesses secure tax breaks for their R&D and intellectual property, has targeted ‘vertical farming’ for future business development. GovGrant CEO Luke Hamm said that vertical farming provides ethical solutions to the problems of mass population, as well as practical opportunities to commercialise food production by adopting new practices in an industry that hasn’t much changed for thousands of years.

Last month I attended Connected Investing held in Manchester University’s Bright Building. The Connected Investing event series is delivered through a partnership between UKBAA (UK Business Angels Association), the trade body for early-stage investing, and Innovate UK, part of the government-funded UK Research and Innovation.

The government’s latest Industrial Strategy report on artificial intelligence (AI) delivers some welcome headlines, but I have a nagging feeling that progress in creating a world-class AI sector in the UK is stately, rather than speedy. The government is, after all, marking its own homework, so it’s no surprise that it accentuates the positive.

GovGrant CEO Luke Hamm has welcomed HMRC’s (HM Revenue & Customs) decision to crack down on abuse of the R&D tax relief system. GovGrant, which is a member of the HMRC Research and Development Consultative Committee, helps businesses claim millions each year for their innovation, including patents and inventions. Luke said he hoped ministers would move quickly to protect the reputation of the tax system and force out unscrupulous agents in time for new rules on tax credit coming in April next year.

Luke Hamm is CEO of GovGrant, a specialist adviser helping companies take advantage of generous government tax incentives for innovation. You can’t keep China out of the news. Not only is it poised to overtake the USA as the world’s biggest economy (and this may be a political factor behind the current trade war with the US), but in the UK, the government is weighing up whether to allow Huawei, the Chinese telecoms giant, to build parts of the UK’s 5G network.

The UK’s biopharma and medtech sector is a world class sector with potential for stellar growth, according to Luke Hamm, CEO of GovGrant, which helps companies in the sector obtain commercialise their innovations, including R&D tax credits. Commenting after the publication of the government’s Office For Life Science’s (OLS) statistical survey of biotech and medtech in the UK, Luke said: “The report underlines the vital importance of this sector to the UK economy, with a quarter of a million employees, turnover of nearly £75bn and over 6,000 businesses across the four key areas.” [biopharma, biopharma service and supply, med tech core and med tech supplier businesses.]

GovGrant, the innovation tax credits specialist, has appointed Dominic Bartholdi as head of sales. GovGrant, [which is based in St Albans] helps businesses take advantage of government tax credits for innovation, R&D and intellectual property such as patents. The proceeds are then ploughed back into the businesses to generate more investment in innovation. Luke Hamm said Dominic’s arrival comes on the back of a record quarterly trading performance with turnover increasing by over 30% at the end of last year.

When Red Nose Day comes around you can rely on the enthusiastic team at GovGrant to get involved – lunchtime board games, eating cake and raising money for this great cause. Since its launch in 1988, Red Nose Day has become something of a British institution. It’s the day when people across the land can get together to do something fun and raise money to support vulnerable people in the UK and internationally.

Innovation tax specialist GovGrant is delighted to confirm today that it has been accepted as the research and development/intellectual property partner of Insurtech UK. GovGrant joins the 40+ insurtech startups and insurance-related businesses who have joined as associate members and partners since the Insurtech UK alliance – which plans to become a formal trade association in the next few months – informally launched in November 2018.

Honda’s decision to close its Swindon car plant by 2022 has been hijacked by the politics of Brexit. No surprise there, but the closure also blows a big hole in the government’s industrial strategy, which placed some big bets on the development and production of electric vehicles in the UK.

Australian government proposals to restrict tax incentives for R&D and innovation have been delayed following an outcry from business and research groups. The proposals, intended to save £1.2bn capped cash refunds for research activities at $4m, introduced a new ‘intensity test’ for larger companies to favour higher, more intensive R&D investment, and significantly increased compliance and enforcement measures, according to a report in the Guardian newspaper.

Sir James Dyson’s decision to move his corporate HQ from the UK to Singapore has unleashed a storm of Brexit-related comment. Sir James, one of the UK’s most successful inventors, is a prominent Brexit supporter, and he has been widely criticised as hypocritical on social media and in the MSM.

Commenting on the latest R&D figures from Eurostat [Estimates of Research & Development expenditure – 10 January], where the UK ranked 11th among EU member states for R&D expenditure in 2017, Luke Hamm, chief executive of innovation tax credits specialist GovGrant, said:

Business financing – cash flow and employees are key assets in every organisation and while the full impact of Brexit on business remains to be seen, business owners should take every opportunity to reinforce these critical areas now and for the future. GovGrant, the UK’s leading specialist in Government incentive funding schemes and Peninsula an award-winning provider of HR, Employment Law & Health & Safety support services would like to personally invite you to attend a brief but invaluable complimentary event for business owners at 9.30am on Tuesday 5th February 2019 at The Hallmark Hotel, Cambridge.

Preliminary GovGrant research finds a potential 50% service gap in for UK businesses. Over a third, (38%) of UK accountancy practices may not provide their clients with tax credit services for innovation and R&D, and a further 13% say there is no client demand for this service. The preliminary findings come from a survey of accounting firms by innovation tax specialist GovGrant, which helps the UK’s most innovative businesses claim tax benefits for their R&D and intellectual property.

Luke Hamm, chief executive of innovation tax credit specialist GovGrant, will urge business owners to monetise their intellectual property (IP) and stop treating it like a medal. In a keynote speech to delegates at the start of London IP Week (Monday 10 December), Luke, whose business helps the UK’s most innovative SMEs claim for the government’s ‘Patent Box’ scheme, will accuse policymakers of ‘woefully under-protecting IP,’ calling for bolder policies policy to ensure business and the wider knowledge economy derives full value from inventions.

Luke Hamm, chief executive of innovation tax specialist GovGrant, has welcomed the government’s announcement that it is to introduce new laws to protect small businesses against unfair contracts that stop them raising money from unpaid invoices.

GovGrant, the St Albans-based innovation and R&D tax credits specialist, has welcomed government plans to develop localised industrial strategies, including for Hertfordshire, but has urged ministers to keep their focus on supporting the strategy at a national level too.

As is usual, politics took centre stage following the 2018 Budget. Labour was under scrutiny after the Shadow Chancellor, John McDonnell, indicated that, unlike his boss, he would not oppose the government’s personal tax changes. In the Times, leading economist David Smith noted that while the budget ‘must be judged as a political success,’ the level of public debt continues to be a cause for concern.

GovGrant, the innovation and R&D tax credits specialist, has welcomed the government’s commitment to the agri-tech sector following the outcome of a government-sponsored roundtable earlier this month, where ministers announced a further £30m investment (on top of £90m already committed via the Industrial Strategy) to enable farmers to buy into technology.

Business powers our economy, even if Boris Johnson colourfully disagrees, and the Chancellor has a chance to underscore the government’s support for business – especially small business – in his Budget at the end of October.

For any bricks and mortar business, one of the most significant investments they can make will be in plant and machinery. The natural temptation is often to keep the extent of this investment as low as possible while getting the job done in the most efficient and safest way possible.

Luke Hamm, chief executive of innovation tax specialist GovGrant, has welcomed the government’s announcement that it is to introduce new laws to protect small businesses against unfair contracts that stop them raising money from unpaid invoices.

Charles Darwin said that ‘it’s not the strongest of the species that survive, nor the most intelligent, but the one that is most responsive to change.’ He was citing the animal kingdom, but (if he was still with us) he could equally be channeling the UK aerospace sector, one of the UK’s most important industries.

The Federation of Small Business (FSB) innovation survey stands out like a sore thumb. There are a huge number of SMEs not accessing or not even being aware of government support for their research and development (R&D).

The march of artificial intelligence is seemingly unstoppable. An AI-world is viewed with alarm or excitement depending, I suspect on whether the Terminator movies increase your pulse rate or send you to sleep.

Insurtech is the buzzword in the insurance industry right now, with dozens of UK start-ups all trying out new ideas and often hungry for investment cash. But what can they do to increase their chances of getting off the launch pad? Is there anything companies can do to get more government help?

We are working more closely than ever with accountants to help businesses secure the grants which are so vital to encourage continued innovation which not only helps them to an edge over competitors but also keeps the wheels of industry turning.

Anyone old enough to remember the BBC comedy series Harry Enfield and Chums may recall the wonderful public information film pastiche sketches which always ended with the phrase ‘Women, know your limits’.

The term “Industry 4.0” originates from a project in the high-tech strategy of the German government promoting the computerisation of manufacturing and adopted globally as a name for the current trend of automation and data exchange in manufacturing technologies. It includes cyber-physical systems, the Internet of Things, cloud computing and cognitive computing. Industry 4.0 introduces what has been called the “smart factory,” in which cyber-physical systems monitor the physical processes of the factory and make decentralised decisions.

It is certainly in the best interest of the UK to bolster the manufacturing capabilities of UK companies, especially during turbulent times when international trading relationships are in a state of flux. Some people might be surprised to learn that the government is doing something to address the situation.

Due to the contribution it makes to carbon emissions the real estate sector is in the forefront of the shift to building “green” buildings. This has been driven by a mix of public sentiment and awareness, legislative pressure and technological advances.

If you have a company that does a lot of research and development, you will want to look into the R&D tax claims you can make. In some cases, you can get reimbursement for up to 33% of your development costs.

Getting a tax credit for making your business better and more efficient, or for bringing a new product to light, is a great thing. It can help you recoup costs that you had for the research and development projects you undertook.

The new official bulletin on R&D spending statistics makes for fascinating reading from a business point of view. Produced annually by the Office for National Statistics (ONS), figures in the Gross domestic expenditure on Research and Development, UK: 2016 are the latest available.

It is an essential element of the UK Industrial Strategy to encourage businesses to invest in green energy to ensure, we continue to reduce our carbon footprint. Environmental taxes have been making the headlines in recent months. The public is more aware of caring for the environment than ever before, with charges for carrier bags and coffee cups and the rise in popularity of electric cars and green energy suppliers to the home.

When assessing research and development projects, knowing which ones qualify for R&D tax credits can help you plan your strategy and budget. When spending money on these types of projects, it is important to understand how these credits are calculated, and what it could potentially mean for your business. Companies can currently claim up to 33% of their expenditures through R&D tax claims.

Last night, GovGrant hosted a dinner at the House of Commons with a number of MPs, industry experts and our clients to discuss how government should support the SME community. The focus was on the question, ‘If the R&D tax credit system is driving innovation and productivity, why is uptake still low and what should be done to give SMEs better IP protection and understanding?’

Are you the owner of a small or medium-sized enterprise (SME) in the UK and think that you could be entitled to research and development tax credits? By working with GovGrant you can eliminate the costly guesswork involved in making R&D tax claims by yourself.

The statistics are truly mind-blowing and should act as a wake-up call to small and medium-sized enterprises (SMEs) across the UK. According to figures from The Centre for Economics and Business Research, the Industrial Internet of Things (IIoT) is likely to add an incredible £322 billion to the country’s economy over the next two years and create thousands of jobs in the process.

If I was being completely honest I am really not sure how I would react if a member of my team told me they were going to take a few weeks off from work so they could appear on a reality TV show. My immediate concern would be about how the actions of the person involved might affect the reputation of our business.

If you are a business owner or manager with a company presence in the UK, you may be eligible for research and development (R&D) tax credits. At GovGrant, our consultants focus on helping you to maximise your R&D tax credit claim no matter the size of your business or your principal products and services. We will help you to follow these simple steps to make sure that you are getting the most from your claim.

A long awaited report into tax credit relief was pretty much guaranteed to make waves because of its forthright views. The Institute for Public Policy Research did not hold back when it released its findings into the extra revenue that firms can access for carrying out research and development.

Everyone knows that running your own business is one of the toughest challenges out there in the professional world. It takes a mixture of guts, determination and self-belief to make a success of a small enterprise and the UK’s army of entrepreneurs need all the help and support they can get.

GovGrant is looking forward to exhibiting at The Business Show this year. This free business exhibition offers a wealth of opportunity, advice and information crucial for ongoing business growth within a challenging economy. The event is committed to providing you with everything needed to improve, evolve and expand your business.